New York, US, Nov. 10, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Application Security Market, By Solution, Region, Service, End-user, Testing, Organization, and Deployment- Forecast till 2030”, the global market for application security is predicted to bolster considerably during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 16.87% to attain a valuation of around USD 27.71 Billion by the end of 2030.
Global Application Security Market Overview:
The application security program can improve the security of applications. Identifying, fixing, and limiting vulnerabilities are some application security operations. At various levels, the security is made harsher by the software. New security developments, devising, and preserving are the operation of this software. At present, companies across the globe have several sources to safeguard. A strong security strategy is vital in most businesses. Hackers are getting smarter with the latest hacking techniques and tools.
Thus, safeguarding companies' data and discovering the gaps for breaches is crucial. Application security plays a part in the bridge for security solutions. The application software utilizes both software and hardware sets to alleviate security concerns. There are several web applications in the application security program. They can efficiently protect data and passwords in any company. The application security market demand is consistently rising. This program is needed program in a company setting and commercial plaigh. The latest and advanced cyber threats cause a rise in market growth.
The list of leading participants across the global application security market includes players such as:
- IBM
- Capegemini
- Whitehat Security
- Synopsys
- Veracode
- MicroFocus
- HCL Technologies
- Cisco Systems Inc.
- RAPID
- Qualys
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The global market for application security has shown massive expansion in recent times. The main parameter supporting the market's growth is the rising requirement for application security in the banking sector. Furthermore, factors like the increasing significance of web security & privacy worries, increasing data and security violations, and growing demand for SaaS-based mobile application security will likely catalyze the market's growth over the coming years. On the contrary, the economic downturn caused by the COVID-19 pandemic and high dependency on vulnerable open-source applications is anticipated to limit the market's performance.
COVID-19 Impact
Unlike other market sectors, the global application security market showed some positive growth during the pandemic. With global activities returning to normal, the global market is anticipated to show considerable growth over the coming years.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 27.71 Billion |
| CAGR during 2022-2030 | 16.87% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increase in demand for Software as a Service (SaaS)-based application security solutions, the application security market will have an immense opportunity to expand over the next five years. |
| Key Market Drivers | The foundation of the digital infrastructure is focused on communication between business-critical applications and data, which are shared across platforms, devices, and users. |
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Application Security Market USP Covered
Market Drivers
The global application security market has shown immense growth in recent years owing to the increasing rate of data breaches, advanced security threats, and the adoption of artificial intelligence & machine learning.
Market Restraints
On the other hand, factors such as high cost & fewer returns, along with a lack of cyber awareness, are likely to restrict the market's growth.
Application Security Market Segment Analysis
Among all the components, the software tools segment is anticipated to secure the top position across the global market for application security over the review era. The segment's growth is credited mainly to the rising demand for mobile app security services. Furthermore, factors such as expanding implementation of AI in mobile-based security procedures, improving emphasis on software solution-centric security capabilities, and rising data breaches are likely to catalyze the segment's growth over the coming years. Additionally, the advantages linked with application security, like false-positive reduction, high performance, zero process disruption, comprehensive vulnerability coverage, and reliability, further boost the segment's performance across the globe. On the other hand, the services segment is anticipated to show the highest growth rate over the review era.
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Among all the deployment models, the cloud segment is predicted to secure the top spot across the global application security market over the assessment era. The growing implementation of cloud computing among small and medium-scale enterprises supports the segment's growth. Numerous companies across the globe are progressively moving towards cloud infrastructure, which in turn is boosting the segment's growth. Furthermore, factors such as easy installation of security solutions, scalability, ease of adoption, and minimal requirement for in-house infrastructure will likely catalyze the segment's growth over the review period.
Among all the types, the web application security segment is predicted to hold the top spot across the global market for application security over the coming years. the growth of the segment is credited to the aspects such as growing adoption of technologies, rising data & security breaches, and expanding demand for filtering & monitoring HTTP traffic between web applications.
Application Security Market Regional Analysis
The global market for application security is analyzed across five major geographies: North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
The MRFR analysis report suggests that the Asia-Pacific region is anticipated to hold the top spot across the global application security market over the coming years. the growth of the regional market is ascribed to aspects like the need for application security and the prevention of breaches and monetary losses.
The North American regional market for application security is anticipated to grow substantially during the assessment era. The region is believed to be the early adopter of advanced technologies, which is considered the primary aspect was supporting the growth of the regional market.
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Furthermore, factors such as the presence of top players and the high penetration of mobile devices will likely analyse the market's growth over the coming years.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
